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Top 5 reasons to invest in garages !!!

March 31st, 2017 by

Garaje
In this post we would like to have a quick overview of the most relevant (and unknow!!!) reasons to support the decision of investing in garages.
 

 

  • GarajeLower maintenance cost and taxes. When comparing buying an apartment to a garage, the last one has a much lower maintenance cost, shared cost with the rest of neighbours and taxes – IBI (Impuestos de Bienes Inmuebles) in Spain.

 

  • Lower acquisition cost – investment needed. Price can vary a lot depending on the city, neighbourhood, and many other variables. That is why price range goes from 5.000 to 60.000 Eur. Consequently garages are easier to ¨approach¨ for not common investors as, most likely, they will not require to look for funding (banks, relatives, etc).

 

  • Profitability/output – high demand. Due to the few parking slots in our cities, the demand for garages is high (and increasing!!!). This situation makes garages a perfect product to be rented and obtain benefits regularly.

 

¨In Spain, buying a garage to rent it has an average yearly output
(performance/profitability) of 5,6%. In some neighbourhoods this number can go up to 8%.¨

 

In terms of output (performance/profitability), Murcia has the highest in Spain with 5,7%,
meanwhile Madrid has 2.8%
 (link)

 

  • A product easy to buy and sell. Due to the lower price of a garage compared to an apartment, buying but also selling a garage is much easier if we wanted to resell this kind of properties. It is a product with high rotation.

 

  • Safety for your car. Parking your car in your private garage can save you from lot of unexpected ¨things¨ that may occur in public spaces. Also, why not to say it? We will be in a better mood, because nobody likes wasting time looking for a parking slot and, probably, having to pay for it.

 

Do you want to move forward?
If you are thinking about buying/investing in garages, you can reach us here by email or phone. We will be happy to tell you the options we have in Cartagena and Alicante.

 

Esta entrada también está disponible en: Spanish

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